9911796707
TMI Blog1985 (12) TMI 119X X X X Extracts X X X X X X X X Extracts X X X X ..... onse to notice under s. 148 served on 14th June, 1968. The assessment was completed under s. 144. of the Act on 29th Jan., 1970 which was reopened under s. 146. After completion of assessment the assessee filed the retune of income showing income from business at Rs. 13,618. Thereafter a revised return was filed on 21st Dec., 1972 declaring income from business at Rs. 17,276. The ITO issued notice under s. 143 (2) which was not complied with and, therefore, the ITO again completed the assessment under s. 144 on 30th March 1982. The ITO assessed the income from undisclosed sources on account of unexplained investment of Rs. 17,500 with M/s. Indore Iron Syndicate, Indore. 3. The assessee went in appeal before the AAC. The AAC sustained the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... heard the rival contentions and gone through the record before me. The order of the AAC shows that after the completion of assessment under s. 144 on 29th Jan., 1970 the assessee filed the return showing income from business at Rs. 13,618 that in the mean time the ITO collected some evidence from the Sales-tax Deptt. which showed that the income of the assessee from business was much more than the income disclosed by him in the return which fact was pointed out to the assessee during the course of assessment proceedings; that the assessee thereafter filed revised return on 21st Dec., 1972 declaring income from business at Rs. 17,275 as against income from business declared in the original return at Rs. 13,618. These findings of the AAC hav ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... shed in income-tax return, the difference between the proprietary business income, as assessed (Rs. 18,500) and as per return furnished (Rs. 13,618), was held to be the income particulars whereof have been concealed by the ITO. The assessee has not been able to meet this finding of the ITO even at this stage. Further, in confirming the addition of Rs. 17,000, the Tribunal held that the assessee has shown household expenses of Rs. 50 per month, which were nominal and it could not be believed that the assessee could meet household expenses within this amount. The household expenses are always there in the knowledge of the householder and if the householder is not showing these truly and showing these highly low then it cannot be held that the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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